Source: unconditional.co.nz
Interest in the Auckland property market has dropped on the back of ever increasing house prices and falling returns for investors.
Auckland average asking prices rose again to another all-time high in June to $888,493, but searches on realestate.co.nz for properties in the city has fallen, says CEO Brendon Skipper.
“It could be a turning point for Auckland, with prices now at an all-time high they’re almost out of reach for the average income...

Source: stuff.co.nz
The average New Zealand house value is rising by more than $10,000 a month, as investors snap up homes ahead of new lending restrictions.
The latest QV research shows the average house price now sits at $590,909, while the average house price in Auckland creeps closer to the million-dollar mark.
Across New Zealand house prices rose by 5.6 per cent in three months, the fastest rate since 2004, and equivalent to more than $30,000 in 90 days.
In June alone, the...

Source: odt.co.nz
The installation of long-awaited CCTV cameras in Balclutha is set to begin next week.
The Clutha District Council announced the installation of the CCTV cameras will begin in Clyde St on Monday.
Clutha District Council communications co-ordinator Rachel Askew said the cameras would be installed to cover key areas on the main street and township.
"Given the investment council has made in the area with the main street upgrade, the council felt installing CCTV cameras...

Source: odt.co.nz
The Clutha District Council has turned property developer, yesterday unveiling its plan for 60 residential sections on an elevated site in north Balclutha.
Buyers will be able to register a "first right to purchase'' on their chosen section in coming weeks.
The 27ha development-ready site, bordered by Johnston Rd and McNeill St, offers 60 sites ranging in size from a 433sq m house section to a 3.33ha lifestyle block.
Prices start at $50,000 for a lower level house...

Source: propertywire.com
Building consents for new dwellings are at a higher level in New Zealand than last year, up 12% in April compared with the same month in 2015.
In seasonally adjusted terms the number increased by 6.6% but growth has eased in recent months, according to the data from Statistics New Zealand.
However, the annual total is still at an 11 year high although most of the growth has been in Auckland and nearby regions, while Canterbury has decreased.
The apartments...

Source: mortgagelink.co.nz
Speaking at the Finance and Expenditure Select Committee today, Reserve Bank governor Graeme Wheeler told Labour Party finance spokesperson Grant Robertson about the possible introduction of measures to tighten access to credit for investors. The Reserve Bank's current measures are limited to Auckland property investors, who cannot borrow more than 70 percent of the value of a property. Changes could see this limit lowered, together with the introduction of a...

Source: odt.co.nz
The historic former courthouse in Balclutha has been put on the market. Property consultant Margot Berney said the building had been on the market for almost four weeks.
The courthouse, on the corner of Paisley and Renfrew Sts, was added to Heritage New Zealand's list of historic places at the start of the year.
The courthouse was described as "aesthetically, architecturally and historically significant''.
Mrs Berney said this was due to it being designed by...